Microvast Holdings, Inc.

MVST

MVSTMicrovast Holdings, Inc. US flag

NASDAQ Global Select

1.53

USD

+0.07

- -

509.73MMarket Cap

Income Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	76	108	152	204	307	380	428
+ Sales & Services Revenue	76	108	152	204	307	380	428
- Cost of Revenue	77	90	195	195	249	260	305
+ Cost of Goods & Services	77	90	195	195	249	260	305
Gross Profit	- -	17	-43	9	57	120	122
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	54	46	151	167	163	142	111
+ Selling, General & Admin	31	33	123	125	120	104	80
+ Research & Development	26	17	34	44	45	41	34
+ Other Operating Expense	-3	-3	-6	-2	-2	-3	-3
Operating Income (Loss)	-54	-29	-194	-158	-106	-23	11
- Non-Operating (Income) Loss	6	5	12	- -	- -	173	46
+ Interest Expense, Net	5	5	5	- -	-1	9	4
+ Interest Expense	6	6	5	3	3	10	5
- Interest Income	1	1	- -	3	4	1	1
+ Other Non-Op (Income) Loss	- -	-1	7	- -	1	164	42
Pretax Income	-59	-34	-206	-158	-106	-195	-35
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	-5
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-60	-34	-206	-158	-106	-195	-29
- Net Extraordinary Losses (Gains)	26	32	19	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	26	32	19	- -	- -	- -	- -
Income (Loss) Incl. MI	-86	-65	-226	-158	-106	-195	-29
- Minority Interest	-13	-16	-10	- -	- -	- -	- -
Net Income, GAAP	-73	-50	-216	-158	-106	-195	-29
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-73	-50	-216	-158	-106	-195	-29
EBIT	-54	-29	-194	-158	-106	-23	11
EBITDA	-38	-12	-173	-138	-83	8	44
EBITDA Margin (%)	-50.34	-11.45	-114.06	-67.38	-27.17	2.08	10.35
EBITA	-54	-29	-194	-158	-106	-23	11
Gross Margin (%)	-0.3	15.94	-28.12	4.44	18.66	31.48	28.56
Operating Margin (%)	-70.47	-27.07	-127.69	-77.34	-34.64	-6.03	2.6
Profit Margin (%)	-94.97	-46.09	-142.13	-77.36	-34.68	-51.46	-6.83
Sales per Employee	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	15	17	21	20	23	31	33
Basic Weighted Avg Shares	301	301	186	303	311	318	325
Basic EPS, GAAP	-0.24	-0.16	-1.16	-0.52	-0.34	-0.61	-0.09
Basic EPS from Cont Ops	-0.2	-0.11	-1.11	-0.52	-0.34	-0.61	-0.09
Diluted Weighted Avg Shares	301	301	186	303	311	318	325
Diluted EPS, GAAP	-0.24	-0.16	-1.16	-0.52	-0.34	-0.61	-0.09
Diluted EPS from Cont Ops	-0.2	-0.11	-1.11	-0.52	-0.34	-0.61	-0.09

Balance Sheet (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	- -	189	707	545	426	428	449
+ Cash, Cash Equivalents & STI	- -	21	481	256	50	73	105
+ Cash & Cash Equivalents	- -	21	481	231	45	73	105
+ ST Investments	- -	- -	- -	25	6	- -	- -
+ Accounts & Notes Receiv	- -	100	104	124	177	146	170
+ Accounts Receivable, Net	- -	76	89	119	139	121	156
+ Notes Receivable, Net	- -	21	11	2	24	8	6
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	3	4	3	15	18	9
+ Inventories	- -	45	53	84	150	143	89
+ Raw Materials	- -	17	25	29	36	39	20
+ Work In Process	- -	22	21	49	86	85	42
+ Finished Goods	- -	5	7	6	28	19	28
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	23	68	80	48	66	84
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	215	289	440	671	524	557
+ Property, Plant & Equip, Net	- -	198	253	352	640	496	525
+ Property, Plant & Equip	- -	265	342	452	748	630	697
- Accumulated Depreciation	- -	67	89	101	108	134	172
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	17	36	88	31	28	31
+ Total Intangible Assets	- -	16	16	14	15	14	14
+ Goodwill	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	16	16	14	15	14	14
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	1	20	74	16	14	18
Total Assets	- -	405	995	985	1,097	952	1,005
+ Payables & Accruals	- -	95	68	89	231	137	111
+ Accounts Payable	- -	42	40	45	113	65	47
+ Accrued Taxes	- -	2	2	7	8	8	9
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	51	26	37	111	64	56
+ ST Debt	- -	78	74	88	101	125	315
+ ST Borrowings	- -	78	74	86	99	122	312
+ ST Finance Leases	- -	- -	- -	2	2	3	3
+ Other ST Liabilities	- -	11	33	76	71	67	62
+ Deferred Revenue	- -	2	2	54	43	44	41
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	8	32	22	28	24	20
Total Current Liabilities	- -	184	176	252	403	330	488
+ LT Debt	- -	73	73	87	104	203	69
+ LT Borrowings	- -	73	73	73	87	189	55
+ LT Finance Leases	- -	- -	- -	14	17	15	14
+ Other LT Liabilities	- -	442	60	32	25	30	37
+ Accrued Liabilities	- -	1	2	3	3	6	6
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	440	58	29	22	25	31
Total Noncurrent Liabilities	- -	515	133	120	129	234	107
Total Liabilities	- -	698	309	372	533	564	595
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	- -	1,306	1,416	1,481	1,513	1,544
+ Common Stock	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	- -	- -	1,306	1,416	1,481	1,513	1,544
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	- -	-398	-632	-791	-898	-1,093	-1,122
+ Other Equity	- -	13	13	-12	-20	-32	-11
Equity Before Minority Interest	- -	-385	687	613	564	388	411
+ Minority/Non Controlling Interest	- -	91	- -	- -	- -	- -	- -
Total Equity	- -	-294	687	613	564	388	411
Total Liabilities & Equity	- -	405	995	985	1,097	952	1,005
Shares Outstanding	- -	301	299	308	315	323	332
Number of Employees	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	16	20	18	17
Net Debt	- -	130	-334	-73	141	238	262
Net Debt to Equity	- -	-44.09	-48.57	-11.86	25.02	61.42	63.89
Tangible Common Equity Ratio	- -	-79.87	68.49	61.68	50.76	39.87	40.01
Current Ratio	- -	1.03	4.02	2.16	1.06	1.3	0.92
Cash Conversion Cycle	- -	163.67	216.35	245.34	233.47	202.48	175.83

Cash Flow Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	-60	-34	-206	-158	-106	-195	-29
+ Depreciation & Amortization	15	17	21	20	23	31	33
+ Non-Cash Items	6	5	165	114	87	220	102
+ Stock-Based Compensation	- -	- -	83	91	65	31	3
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	-5
+ Asset Impairment Charge	3	1	2	7	4	96	38
+ Other Non-Cash Adj	3	5	79	17	18	93	66
+ Chg in Non-Cash Work Cap	52	27	-24	-30	-78	-53	-30
+ (Inc) Dec in Accts Receiv	79	10	-2	-36	-47	15	-55
+ (Inc) Dec in Inventories	10	14	-26	-44	-74	-1	27
+ (Inc) Dec in Prepaid Assets	1	-2	-11	4	-14	3	9
+ Inc (Dec) in Accts Payable	-40	4	16	-4	72	-71	24
+ Inc (Dec) in Other	1	- -	-1	49	-14	- -	-35
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	13	16	-45	-54	-75	3	76
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	2	10	4
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	2	10	4
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-20	-19	-88	-151	-187	-28	-20
+ Acq of Fixed Prod Assets	-20	-19	-88	-151	-187	-28	-20
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	29
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	29
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	16	1	- -	-25	20	6	- -
+ Dec in LT Investment	37	6	- -	- -	26	6	- -
+ Inc in LT Investment	-20	-5	- -	-25	-6	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-4	-18	-88	-176	-166	-12	-16
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-19	-1	59	5	33	60	-12
+ Cash From Debt	82	36	105	59	48	127	86
+ Repayments of Debt	-101	-37	-46	-54	-15	-66	-97
+ Other Financing Activities	-33	- -	566	- -	- -	-23	-20
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-52	-1	625	5	33	38	-3
Effect of Foreign Exchange Rates	-1	2	3	-9	-7	-7	2
Net Changes in Cash	-43	-3	492	-225	-208	28	57
EBITDA	-38	-12	-173	-138	-83	8	44
EBITDA Margin (%)	-50.34	-11.45	-114.06	-67.38	-27.17	2.08	10.35
Free Cash Flow	-7	-3	-133	-205	-262	-25	56
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-4	-74	-200	-227	45	48
Free Cash Flow per Basic Share	-0.02	-0.01	-0.71	-0.68	-0.84	-0.08	0.17
Price/Free Cash Flow	89	150.25	24.57	4.79	3.9	21.59	9.5
Cash Flow to Net Income	-0.18	-0.31	0.21	0.34	0.71	-0.01	-2.6
Capital Expenditures	-20	-19	-88	-151	-187	-28	-20